The implication of the EU-UK Trade and Cooperation Agreement (TCA) for the automotive sector
On 24 December 2020, the European Union and the United Kingdom concluded the Trade and Cooperation Agreement between the European Union and the European Atomic Energy Community, of the one part, and the United Kingdom of Great Britain and Northern Ireland, of the other part (the “TCA”), which is provisionally applied from 1 January 2021. The TCA forms the basis of the new bilateral relationship between the EU and the UK.
The withdrawal of the UK from the EU and the terms of the TCA have changed the way in which goods are traded between the EU and the UK. For an industry that is as integrated as the automotive sector, these changes are significant. This Client Alert expands on our Client Alert “Implications of the EU-UK Trade and Cooperation Agreement on trade in goods”, by focusing on the TCA’s provisions relevant to the automotive sector, in particular the provisions regarding the rules of origin and technical barriers to trade.